Global laboratory supplies market was valued at USD 30.6 million in 2020. It is expected to grow at a compound annual rate (CAGR of 7.5%) between 2021 and 2028. This market is mainly driven by increased investment and funding in research and development activities in the fields of pharmaceutical and biotechnology. Due to the steady supply of laboratory equipment, the market will continue to grow steadily over the next few years. Research on coronavirus has increased since the Covid-19 pandemic. Labs that were doing research on other diseases before the pandemic were closed. The lockdown's main goal was to prevent close contact between lab workers, which resulted in low lab supply. Stat News reports that many scientists have said that prolonged and extensive shutdowns have had a significant impact on other scientific discoveries. Some initial disruptions resulted in increased workloads for CROs and reduced internal laboratory testing capacity of companies involved in pharmaceutical .
Because of the advancements in chemical and biological research, there is a rising demand for laboratory products. Laboratory disposable products are in high demand due to the increasing number of clinical laboratory tests and life science research. Procurement managers in the healthcare and pharmaceutical sectors will continue to demand constant supplies of laboratory equipment and key laboratory devices.
To conduct research and run tests, laboratories require various equipment. You can find general lab equipment in research and educational labs as well as diagnostic testing in medical laboratories, quality assurance, manufacturing, research & design, and many other areas. Laboratory equipment can speed up analyses, which adds value to the lab by increasing its capacity and allowing for more tests per day. These faster methods can allow for testing to be combined onto smaller instruments, which can lower consumables, maintenance requirements, regulatory documentation, as well as overall costs.
Laboratory capabilities are being enhanced by technology trends. Scientists and technicians can work more efficiently and precisely with innovative technology. Automation, miniaturization, artificial intelligence, and smart technology are all becoming reality, streamlining lab life. Increasing pressure is placed on lab workers to produce results as quickly as possible. Laboratory managers must be agile and fast. Improving the purchasing process is a key factor in increasing efficiency for laboratory managers. Lab suppliers also want to simplify the ordering and product selection processes.
The adoption of laboratory equipment is also being driven by technological advances. Modern laboratory instruments are easy to use thanks to their interfaces. BrandTech Scientific, Inc. provides an electronic pipette that can be operated with touchscreen technology and automatically ejects the tip. The screen functions as a smartphone and allows users to access all functions by simply swiping.
In 2020, the equipment segment held the largest share at over 63.0%. This is due to the high price of equipment, which results in one-time payments for many years. Another technical field is laboratory equipment. The equipment is used to perform experiments, quality control, and process controls. It allows for easy capture and orientation of different categories. It is easy to find the appropriate laboratory equipment, machines, or instruments quickly and systematically.
Laboratory equipment is essential for scientific establishments, such as laboratories and research centers. It can be used to conduct a variety of experiments and tests. These activities are only possible if the equipment is durable, strong, and quality. They provide precise results and increase work efficiency. This creates demand and boosts market growth.
North America held the largest share, with more than 37.0% for 2020. The largest share of the global market was more than 37.0% in 2020. This can be attributed to the large number of pharmaceutical and biopharmaceutical companies involved in R&D. Research will continue to be attracted by the track record and quality of the firms that have been operating in the region.
Biopharmaceutical is one of the most important sectors for funding research in the region. Many companies are focused on developing new leads and storing large quantities of samples to create demand for their products. A large number of companies are also involved in the development and production of vaccines and therapeutics, which has boosted market growth.
Market leaders are creating new products that have advanced technology and features that make it easier to operate samples. It is becoming more common to find smaller, easier-to-use instruments that have built-in connectivity. Double Helix has launched a module that allows 3D visualization at nanoscale of the intracellular and intercellular parts of widefield microscopes. The following are some of the major players in the global laboratory supply market:
Bio-Rad Laboratories Inc.
Bruker Corporation
Danaher Corporation
Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.).
Agilent Technologies Inc.
PerkinElmer Inc.
Shimadzu Corporation
Thermo Fisher Scientific, Inc.
Waters Corporation
Up Market Research published a new report titled “Laboratory Supplies Market research report which is segmented by Equipment (Spectrophotometer & Microarray Equipment, Autoclaves & Sterilizers), by Disposables (Tubes, Masks), By Players/Companies Waters Corporation, Danaher Corporation, Agilent Technologies Inc, Thermo Fisher Scientific Inc, PerkinElmer Inc, Fujifilm Holdings Corporation (Irvine Scientific Sales Company Inc), Bio-Rad Laboratories Inc, Bruker Corporation, Shimadzu Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Laboratory Supplies Market Research Report |
By Equipment | Spectrophotometer & Microarray Equipment, Autoclaves & Sterilizers |
By Disposables | Tubes, Masks |
By Companies | Waters Corporation, Danaher Corporation, Agilent Technologies Inc, Thermo Fisher Scientific Inc, PerkinElmer Inc, Fujifilm Holdings Corporation (Irvine Scientific Sales Company Inc), Bio-Rad Laboratories Inc, Bruker Corporation, Shimadzu Corporation |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 239 |
Number of Tables & Figures | 168 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Equipment (Spectrophotometer & Microarray Equipment, Autoclaves & Sterilizers), by Disposables (Tubes, Masks).
Laboratory Supplies Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Laboratory Supplies Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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